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203 Moonlight Drive Red Oak, TX 75154

4 Beds 2 Baths 1,744 sqft Built 2007

$234,997

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $134.75
  • 6 Days on Market
  • MLS # : 14494226
  • Updated Date : 01/08/2021 at 18:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,744 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

WELL MAINTAINED 4 BEDROOM, 2 BATH, 2 CAR REAR ENTRY GARAGE ONE STORY HOME ON PRIVATE FENCED IN LOT IS READY FOR YOUR FAMILY TO ENJOY! WOOD LIKE TILE, NEW CARPET, CUSTOM LIGHT FIXTURES, WOODBURNING FIREPLACE, OVERSIZED LAUNDRY RM, SPACIOUS KITCHEN, SOLAR SCREENS & TUFF SHED. NEW 30 YR ROOF, GUTTERS & BOARD ON BOARD FENCE IN 2020! JUST 5 MINS FROM I35E! PRICED TO SELL, THIS ONE WON’T LAST LONG!

SEE MORE

MARKET HIGHLIGHTS

  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Red Oak Elementary School Primary Regular 635 37 6
Red Oak Junior High School Middle Regular 872 52 6
Red Oak High School High Regular 1,794 115 5

Red Oak Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 37
6
GreatSchools Rating

Red Oak Junior High School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 52
6
GreatSchools Rating

Red Oak High School

  • Education Level: High
  • # of students: 1,794
  • # of teachers: 115
5
GreatSchools Rating
 

$211,497$258,497$234,997

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$816
Property Tax -$512
Property Insurance -$128
HOA -$17
Property Management Fees -$99
CASH FLOW
$258

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$234,997

PROJECTED PRICE

$1,830

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,024

INVESTMENT

$68,024

Down Payment
$58,749
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,749
Loan Amount $176,248
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$32,605

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,830

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,888

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8303$1,9504$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 203 Moonlight Drive Red Oak, TX 2
    • 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.05
    •  
  • 100 Hollow Tree Drive Red Oak, TX 1
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2006
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.16
    •  
  • 204 Winters Edge Drive Red Oak, TX 3
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2013
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 330 Fox Hollow Drive Red Oak, TX 4
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2004
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
  • 233 Cobblestone Circle Red Oak, TX 5
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2002
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.12
    •  
PROPERTY LISTING DETAILS
Mary Eubanks
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494226
Last Updated: 01/08/2021
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